Intel: £4.2bn deal to buy Israeli chipmaker Tower Semiconductor lapses on China stall

Intel and Israeli chipmaker Tower Semiconductor have “mutually agreed” to call off their $5.4bn (£4.2bn) deal due to regulatory hurdles from China. In a statement on Wednesday, leading semiconductor manufacturer Intel said it will pay a termination fee of $353m to Tower after the merger failed to get approval from regulators by its 15 August deadline. [...]